Sensex Ends 152 Points Lower; Energy And IT Stocks Witness Selling

India share markets witnessed selling pressure during closing hours and ended their day marginally lower.

At the closing bell, the BSE Sensex stood lower by 152 points (down 0.4%) and the NSE Nifty stood down by 45 points (down 0.4%).

The BSE Mid Cap index ended the day down 0.4%, while the BSE Small Cap index stood down by 0.5%.

Stocks in the energy sector and IT sector witnessed huge selling pressure, while metal stocks and telecom stocks were trading in the green.

The rupee was trading at 71.64 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.17% and the Shanghai Composite was up by 1.84%. The Nikkei 225 was up 0.34%.

European markets were also trading on a mixed note. The FTSE 100 was up by 0.04%. The DAX was trading down by 0.10%, while the CAC 40 stood down 0.15%.

In news from the automobile sector, automobile dealers' body FADA said passenger vehicle (PV) retail sales in January declined 4.61% YoY to 2,90,879 units. The fall here was seen on the back of tepid response by end customers.

According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,223 out of the 1,432 regional transport offices (RTOs), PV sales stood at 3,04,929 units in January 2019.

Two-wheeler sales declined 8.82% to 12,67,366 units last month as compared with 13,89,951 units in January 2019.

Commercial vehicle sales declined 6.89% to 82,187 units as compared to 88,271 units in January 2019.

Three-wheeler sales, however, rose 9.17% to 63,514 units last month as compared with 58,178 units in January 2019.

Total sales across categories declined 7.17% to 17,50,116 units last month as against 18,85,253 units in the year-ago month.

FADA President Ashish Harsharaj Kale said that overall weak economic sentiment continues and even the Budget 2020, although an inclusive budget with growth drivers for the mid to long term, did not have any direct measures nor any immediate growth enabling initiatives for the auto sector.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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